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Which of accounts is not closed during the closing process

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Reference no: EM133007110

Problem 1: Which of the following accounts is not closed during the closing process?

a. Income Summary

b.Owner's Capital

c. Commissions Revenues

d. Owner's Withdrawals

Problem 2: Which of the following could not possibly be a closing entry?

a. Debit Income Summary and credit Owner's Capital

b. Debit Owner's Capital and credit Owner's Withdrawals

c. Debit Income Summary and credit Owner's Withdrawals

d. Debit Owner's Capital and credit Income Summary

Reference no: EM133007110

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